Despite China's substantial long -term growth potential, actual economic growth has persistently fallen short of its potential rate, reflecting structural bottlenecks in economic operations. This report argues that the core reason for insufficient growth momentum lies in the lag of China's transformation of government functions behind the transition in its stage of economic development. To address this challenge, China needs to upgrade its developmental -government paradigm from an investment- a

​In the first half of 2025, there were some encouraging signs of stabilization and improvement in the Chinese economy, but the economic growth rate remained below potential levels. The Chinese economy is running with "qi stagnation and blood stasis," and the high local debt exceeds the fiscal and tax capacity of local governments. Under the pressure of debt reduction, local governments have increased their efforts and distorted their actions in raising fiscal revenue from enterprises and residen

China's economy has substantial potential demand and supply, with enormous long-term growth prospects. However, it is currently facing two fundamental issues: infrastructure financing mismatch and the production-centered economic institutions. These problems have caused actual economic growth to fall below its potential level. To ensure the achievement of basic modernization by 2035, these two issues must be addressed through comprehensive reforms as soon as possible. Infrastructure financing mi

"Adhering to the principle of seeking progress while maintaining stability, promoting stability through progress, and establishing the new before abolishing the old" is a new macro governance approach proposed at the Central Economic Work Conference at the end of 2023, which points out a new direction for China's economic policy adjustment. In recent year, China's economy growth has been consistently below its potential growth rate, and a trend of continuous decline in economic growth had alread

One of China's overall development goals for 2035 is to achieve a per capita gross domestic product at the level of a moderately developed country. Achieving this goal requires China to maintain its economic growth rate within a reasonable range in the long term. Since the reform and opening-up, the basic direction of national governance reform has been to streamline administration and delegate power, manifested as repeated overheating in the macro economy; in the past decade or so, the national

The “China Macroeconomic Analysis and Forecast Report (2022)” suggests that the Chinese economy as a whole has shown signs of post-pandemic recovery in 2021, but nevertheless, China's economic growth rate has demonstrated an obvious downward trend. Looking ahead to 2022, the ACCEPT team believes that although the downward pressure on the economy has increased, if the pandemic is properly prevented and controlled and various policies are adjusted in place, China's economy is still expecte

ACCEPT's China Macroeconomic Analysis and Forecast (no. 96) urges a shift from population power to human resource power.

The “Southbound Shift” of China’s economy and population has been occurring for 1,500 years; Beijing, Shanghai, Guangzhou, and Shenzhen account for 12.5% of China’s total GDP, but 5.2% of the population